--- title: "Padder Guarantor + Padder Deposit: Lower your upfront move-in cost" description: Learn how combining Padder Guarantor with Padder Deposit (where accepted) can reduce upfront move-in costs by replacing a full last month’s rent deposit with a smaller one-time premium. image: https://help.padder.com/hubfs/Partner_Brand_Centre/Padder_Link_Preview_1200x630.png --- [Skip to content](https://help.padder.com/padder-guarantor-and-deposit-lower-upfront-move-in-costs#main-content) [![Padder Logo](https://help.padder.com/hs-fs/hubfs/Padder%20Logo.png?width=250&height=72&name=Padder%20Logo.png)](https://help.padder.com) - [Help Centre](https://help.padder.com/) - [Claims Centre](https://resources.padder.com/claims) - [Contact support](https://resources.padder.com/support) Open main navigation Close main navigation - [Help Centre](https://help.padder.com/) - [Claims Centre](https://resources.padder.com/claims) - [Contact support](https://resources.padder.com/support) Search the Help Centre - There are no suggestions because the search field is empty. 1. [Padder Help Centre](https://help.padder.com/) 2. [Residential Tenant](https://help.padder.com/residential-tenant) 3. [Start Here: About Padder & Your Options](https://help.padder.com/residential-tenant#start-here-about-padder-your-options) September 25, 2026 # Padder Guarantor + Padder Deposit: Lower your upfront move-in cost ### The big idea If you're using Padder Guarantor to support your lease application, you may still be asked to pay your landlord's standard first and last month's rent up front — in addition to your Padder Guarantor premium. If your building also accepts Padder Deposit, you may be able to replace the traditional Last Month's Rent (LMR) deposit with a smaller one-time premium. That can significantly reduce what you need to pay at move-in. **Important:** Padder is always optional. Your landlord can't require Padder as a condition of tenancy. #### Scenario 1: No Padder (standard first + last) Most landlords require first and last month's rent to secure a lease. If monthly rent is $2,000, you typically pay: - $2,000 first month to the landlord - $2,000 last month deposit to the landlord Total upfront: $4,000 (other deposits/fees not included) #### Scenario 2: Padder Guarantor only Padder Guarantor gives your landlord added assurance about your application. But many landlords will still require first + last month's rent under their standard process. If monthly rent is $2,000, you may pay: - $4,000 to the landlord (first + last), plus - Padder Guarantor premium: typically 30%–130% of one month's base rent - For $2,000 rent: $600–$2,600 Total upfront estimate: $4,600–$6,600 **This is the reality check:** for some renters, Guarantor-only can support the application — but the combined upfront cost can still be hard to swing. Some landlords may choose to offer their own benefit or assistance to reduce tenant move-in costs, but that is always at the landlord's discretion and is never guaranteed. #### Scenario 3: Padder Guarantor + Padder Deposit (where accepted) If your landlord accepts Padder Deposit, you don't pay a traditional Last Month's Rent deposit to the landlord. Instead, you pay: - First month rent to the landlord: $2,000 - Padder Guarantor premium: $600–$2,600 (typical for $2,000 rent) - Padder Deposit premium: typically 10%–15% of one month's base rent - For $2,000 rent: $200–$300 Total upfront estimate: $2,800–$4,900 That means you're replacing a $2,000 last month deposit with a $200–$300 premium — a reduction of roughly $1,700–$1,800 upfront in this example. #### Quick comparison (using $2,000/month rent) - First + last to landlord (no Padder): $4,000 - First + last ($4,000) + Guarantor ($600–$2,600): $4,600–$6,600 - First to landlord ($2,000) + Guarantor ($600–$2,600) + Deposit ($200–$300): $2,800–$4,900 ##### What this does (and doesn't) change - You still pay rent monthly as normal. Padder doesn't replace rent. - Padder Deposit doesn't pay your last month automatically. It protects your landlord if you move out without paying your last month's base rent. - If the insurer pays a claim, you must repay the insurer under your indemnity agreement (just like you'd still owe unpaid rent in a normal tenancy). ### How to know if you can bundle Guarantor + Deposit You can only add Padder Deposit if your landlord/building accepts it. - If you're applying for Padder Guarantor in a building that accepts Deposit, you'll typically be considered for Deposit as part of the same flow. - If you're not sure, ask your leasing team or start with Paddie (AI chatbot) in the [Padder Help Centre](https://help.padder.com/). **See also:** "[Padder Guarantor vs. Padder Deposit" and "How to apply for Padder Deposit.](https://help.padder.com/padder-guarantor-vs-padder-deposit)" - [Residential Tenant](https://help.padder.com/residential-tenant#main-content) - [Start Here: About Padder & Your Options](https://help.padder.com/residential-tenant#start-here-about-padder-your-options) - [Padder Credit Builder](https://help.padder.com/residential-tenant#padder-credit-builder) - [Eligibility: Who Padder Is For](https://help.padder.com/residential-tenant#eligibility-who-padder-is-for) - [Coverage & Limits: What’s Protected](https://help.padder.com/residential-tenant#coverage-limits-whats-protected) - [Pricing, Payment & Refunds](https://help.padder.com/residential-tenant#pricing-payment-refunds) - [Applying to Padder: How the Process Works](https://help.padder.com/residential-tenant#applying-to-padder-how-the-process-works) - [Troubleshooting Your Application](https://help.padder.com/residential-tenant#troubleshooting-your-application) - [Your Responsibilities & the Indemnity Agreement](https://help.padder.com/residential-tenant#your-responsibilities-the-indemnity-agreement) - [Managing Your Policy: Changes, Transfers & Reapplying](https://help.padder.com/residential-tenant#managing-your-policy-changes-transfers-reapplying) - [Trust, Safety & Support](https://help.padder.com/residential-tenant#trust-safety-support) - [Frequently Asked Questions](https://help.padder.com/residential-tenant#frequently-asked-questions) - [Residential Operator](https://help.padder.com/residential-operator#main-content) - [Getting Started & Referrals](https://help.padder.com/residential-operator#getting-started-referrals) - [Coverage & Claims](https://help.padder.com/residential-operator#coverage-claims) - [Frequently Asked Questions](https://help.padder.com/residential-operator#frequently-asked-questions) - [Terms of use](https://padder.com/terms-of-use/) - [Privacy Policy](https://padder.com/privacy-policy/) - [Privacy Statement](https://resources.padder.com/privacy-statement) - [Disclosure Statement](https://resources.padder.com/disclosure-statement) - [Regulatory Disclosures](https://resources.padder.com/regulatory-disclosures) - [CISRO Conduct Sheet](https://www.cisro-ocra.com/Documents/View/2471) - [Broker Fact Sheet](https://www.ribo.com/wp-content/uploads/2025/01/RIBO_Conduct_Sheet_040622-fact_sheet-1.pdf) - [Contact us](https://resources.padder.com/support) [![Padder Logo](https://help.padder.com/hs-fs/hubfs/Padder%20Logo.png?width=180&height=52&name=Padder%20Logo.png "Padder Logo")](https://www.padder.com) Padder Underwriting Inc. is a licensed insurance broker headquartered in Toronto, Ontario. It arranges coverage for tenants and landlords in provinces where it is licensed to offer insurance products. Padder partners with licensed Canadian insurers to provide your coverage. Need help? Paddie, our AI chat, is here any time. Our team is on email and phone Monday to Friday, 9am to 5pm ET. © 2026 Padder Underwriting Inc. All rights reserved.